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5/26/15
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A 20k sf, high-rise, apartment development site in downtown San Diego sold for $12.8 mil. The property, located at 520 W. Ash St and 1446 Columbia St, was purchased by Lennar Multifamily Communities LLC in an off-market transaction.
Located in the vibrant Little Italy neighborhood, the buyer plans to develop an upscale apartment project of 220 units with 5k sf of retail space. The property is located two blocks from San Diego Bay, the San Diego Trolley, and one block to the shops and restaurants on India St.
Victor Krebs of Colliers International represented the buyer in the transaction. The seller, Chhatrala 520 Ash St LLC, a San Diego-based investor, had no outside representation.
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